Market Patrol 18 June 2021

The market can stay irrational longer than you can stay solvent.

John Maynard Keynes

Indicative Selling Rates
against MUR
USD

07 Mar 2025

AUD
29.29
0.6404

BWP
3.42
0.0748

CAD
32.25
1.4182

CNY
6.51
7.0203

DKK
6.73
6.7988

EUR
49.66
1.0860

HKD
5.97
7.6557

INR
0.53
85.7162

JPY
31.79
143.8467

KES
35.98
127.1086

NZD
26.39
0.5772

NOK
4.29
10.6532

SGD
34.86
1.3120

ZAR
2.61
17.4941

SEK
4.56
10.0244

CHF
52.34
1.1445

GBP
59.20
1.2946

USD
45.73
1.0000

AED
12.75
3.5858

U.S dollar bolstered across the board despite poor U.S retail sales.

Fundamental News

EUR/USD
The common currency suffered a hammer blow to $1.19 on comments from ECB Governing Council member Visco late Thursday that supply and demand issues complicate the E.U inflation outlook and from ECB policymaker Weidmann who called for an end to the Pandemic Emergency Purchase Programme.

GBP/USD
Sterling crashed below $1.39 after unexpectedly negative U.K. May retail sales number.

USD/JPY
Japanese yen soared to 110.09 per dollar after the Bank of Japan kept its monetary policy settings unchanged following the conclusion of its two-day monetary policy review meeting on Friday.

USD/CAD

Loonie plummeted to $1.2368 against the greenback despite poor U.S. initial jobless claims increased by 37,000 to 412,000 in the week ending June 12.

AUD/USD
Aussie fell to $0.7540 on escalating U-S-China tensions as China retaliated by citing US President Joe Biden’s executive order as a threat to the key Chinese technology company.

USD/ZAR
South African rand to 14.10 per dollar after domestic retail sales fell 0.8% in month-on-month terms in April, their fourth monthly decline in five months, suggesting poor consumer demand.

USD/MUR
The dollar-rupee edged higher by 5 cents to 41.35(selling) on the local market.

Fundamental & Technical Data

Economic Indicators-Local Time

10:00 - GBP - Retail Sales (MoM)(May)

10:30 - JPY - BoJ Press Conference

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

0.00-0.25%

16-Mar-2020

16-Jun-2021

European Central Bank

0.00%

10-Mar-2016

10-Jun-2021

Bank of England

0.10%

19-May-2020

24-Jun-2021

Bank of Japan

-0.10%

28-Jan-2016

18-Jun-2021

Reserve Bank of Australia

0.10%

03-Nov-2020

01-Jun-2021

S.Africa Reserve Bank

3.50%

23-Jul-2020

20-May-2021

Reserve Bank of India

4.00%

22-May-2020

06-Aug-2021

Bank of Mauritius

1.85%

16-Apr-2020

Looking for Markets correlation?

Market Correlation is a measure, statistical or observational, that gives a positive or negative link between the pricing of multiple currencies.

Bulls & Bears Levels

Resistance and Support

Levels

EUR/USD

GBP/USD

USD/JPY

USD/ZAR

1.2094

1.4102

111.29

15.57

1.2050

1.4055

111.06

14.29

1.1979

1.3989

110.63

13.94

1.1935

1.3942

110.40

13.50

1.1864

1.3876

109.98

13.23

1.1821

1.3829

109.74

12.71

1.1750

1.3763

109.32

11.43

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Allan Juste

Head - Forex And Derivatives

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Disclaimer

Please note that the information published is purely indicative. It is based on technical data from sources which the Bank verily believes to be authentic, though its timeliness or accuracy cannot be warranted or guaranteed. AfrAsia Bank Ltd issues no invitation to anyone to rely on this bulletin and neither we nor our information providers shall be in no way whatsoever, liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness, or for any delay or interruption in the transmission thereof to the user. The indicative rates and other market information are subject to changes at the Bank's discretion. Whilst every effort is made to ensure the information is accurate, you should confirm the latest situation with the Bank prior to making any decisions.

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